ST. THERESA PARISH

FINANCE COUNCIL MEETING

August 13, 2009

Fr. Larry Hoffmann Paul Galloway

John McMichael Bob Wrobel

Tom Hueholt Don O’Neill

Paul Johnson Margie Pope

Kevin Olsen Jim Langeness

Ed Downey

Bob Wrobel called the meeting to order at 5:30 PM. We opened with a prayer from the pamphlet for August, Scripture – Bible Basics I. We read and discussed the article on The Bible.

Roll Call - Paul Johnson, Kevin Olsen and Ed Downey were absent.

The minutes from the July meeting were approved.

ANNUAL DIOCESAN APPEAL

Our goal is $142,249. We have received 592 pledges totaling $153,176 and of this amount $125,373 has been paid. We have 107.68% of goal pledged and a balance of $16,876 to reach our goal.

FINANCIALS

John advised tithing is up from last year but we are $2,000 under budget. The plate collection is also more than last year but down from budget.

The budget income figures are weighted over a four year period so the outgoing and incoming years may have an effect.

John has included a $6,000 refund from the Diocesan Appeal in our budget this year. It will appear in the April figures, the month the refund is generally received.

SCHOOL ISSUES

John shared $44,000 was received in tuition in July.

Students were billed for bus and band if they were involved in these last year.

Fr. Larry, Ellen, Sherry and Bob met and discussed the tuition payment and follow up system and issues.

The school will collect the registrations and ACH forms. Sherry will send Bob a registration list and ACH forms. Bob will go through this list and get back to people who want the automatic withdrawal but didn’t leave the info or form. Bob is half way through the list at this time. If they get started paying late, the tuition will be divided by fewer payments (they’ll just divide the tuition by fewer months)

If Bob doesn’t receive a response from these people, he will report back to Sherry. The school financial control sub committee will still meet to review and make any necessary changes.

This year statements will go out to all parents with the hope of building up confidence in the system.

We have 331 students registered at this time.

Ellen has advised the budget income figure is too high for child care. John is showing $278, 840 in fees but they are being adjusted. Presently income is showing $43,000 up from last year. John is going to review and check this out with them. He’s not sure where the error occurred.

We will have a new teacher for 1^st grade and this is figured in the budget. We will need a 60% teach for 5^th grade that is not in the budget. This is due to going from 305 students to 331.

The Board of Education meets Tuesday then Bob will have more info on the budget.

CODE OF CONDUCT – CONFLICT OF INTEREST

We have a conflict of interest statement in our handbook that reads as follows:

No employee will have a direct or indirect financial interest in the assets, leases, business transactions or professional services of St. Theresa, or must have specifically approved by the pastor in writing earlier of a transaction or service.

It was mentioned and discussed this should also apply to board members so “representative of the parish” will be added to this statement along with “no employee”. A motion was made to approve…..it was seconded and approved unanimously.

GENERAL INFORMATON

Financials are now on the website. Minutes from board meetings will be added soon.

It was mentioned Christ the King parish had an audit at a cost of $25,000. Sts. Peter & Paul an audit that cost $6,000. The committee felt there was probably quite a difference in the information in the audits.

We closed the meeting with A Prayer for Biblical Insight.

The meeting was adjourned at 6:35 PM.

Respectfully submitted,

Margie Pope